economy
February 27, 2026
Netflix declines to increase WBD bid, letting Paramount win
In an unexpected move, Netflix declined to increase its offer for Warner Bros. Discovery on Thursday after the latter company called Paramount Skydance’s revised bid “superior.”
TL;DR
- Netflix declined to increase its offer for Warner Bros. Discovery (WBD).
- WBD had deemed Paramount Skydance's revised bid of $31 per share as a "company superior proposal."
- Netflix cited financial discipline, stating the required price to match was no longer attractive.
- The decision allows Paramount's bid to likely win the prolonged bidding war.
- Netflix co-CEOs expressed belief in their ability to strengthen WBD's brands and preserve jobs.
- WBD's board still recommended its deal with Netflix but noted they could terminate it if Paramount's bid remained superior.
- Netflix CEO Ted Sarandos also met with federal officials amid a Department of Justice review of rival bids and an investigation into Netflix's business practices.
- WBD had scheduled a March 20 shareholder meeting to vote on the Netflix merger, which now seems unlikely to proceed.
Continue reading the original article